Page 8 - Walmart

PhonePe raises $200 mn additional funding from Walmart at $12 bn valuation

New funding is part of PhonePe's ongoing capital raise of up to $1 bn, following its domicile shift to India last year

PhonePe raises Rs 1,649 crore in additional funding from Walmart

PhonePe, one of India's largest fintech platforms, on Friday said it has raised an additional USD 200 million (around Rs 1,649 crore) in primary capital from Walmart, at a pre-money valuation of USD 12 billion. This new funding comes as a part of PhonePe's ongoing fundraise of up to USD 1 billion in capital, following its domicile shift to India last year. With this tranche, the company has raised USD 650 million (around Rs 5,360 crore) from several global investors, PhonePe said in a statement. The USD 12 billion pre-money valuation makes Walmart-owned PhonePe the most valuable fintech in the country, surpassing payment services provider, Razorpay which was last valued at USD 7.5 billion. PhonePe competes with Google Pay and Paytm. "The company expects further investments, which will be announced in due course," the statement said. "PhonePe plans to deploy these funds to build and scale new businesses like insurance, wealth management, lending, stockbroking, ONDC-based shopping an

India on top for Walmart, Apple sans brick & mortar

Both Apple and Walmart have been quite a political hot potato in India cutting across governments

Walmart's PhonePe seeks to raise $300-$400 mn from General Atlantic, others

The new investment is likely to close in a few weeks and help the payments firm compete with Google Pay, Paytm, and Amazon Pay in the Indian fintech space

India likely to be largest market in the world this year: Walmart CFO

John David Rainey, CFO Walmart, said during an investor conference that Walmart-owned Flipkart and PhonePe have exciting opportunities and have large portions of market share in India

Flipkart in talks to acquire Bengaluru-based e-pharma player Pharmallama

The deal may result in Flipkart gaining access to technologies of the platform, the people said on condition of anonymity

Global majors finally return to Tiruppur after a long dry spell

Weave revival story as knitwear exports rise 11.6% in rupee terms

Accel, Tiger Global mulling to exit e-commerce firm Flipkart: Report

Accel owns a little over 1 per cent of Flipkart, while Tiger Global holds about 4 per cent of the company

PhonePe raises $350 mn from General Atlantic; now bigger than Swiggy, Paytm

Joins decacorn club as most-valued fintech after topping $12-billion valuation in new funding

Flipkart Internet gets $90 million cash infusion from Singapore parent

The cash infusion is expected to help Flipkart in competing with US-based Amazon for leadership in the Indian e-marketplace

Paid most of $1 bn tax for PhonePe shifting base to India, confirms Walmart

The company said last month it had completed the separation of PhonePe from Flipkart, adding that it would remain a majority stakeholder in both the companies

Flipkart's $700 million payout to benefit 25,000 employees: Report

Investors of Flipkart including Walmart will pay for the cash payout and it will benefit past and present employees of Flipkart, Myntra and PhonePe

Flipkart, PhonePe complete separation as fintech firm preps for fundraise

PhonePe in talks with parent Walmart, General Atlantic, and other investors to raise about $700 mn

Metro AG exits: Here is what happened to other foreign retailers in India

Reliance Retail on Wednesday announced acquiring a 100 per cent stake in German retailer Metro AG

Walmart's payments startup PhonePe seeks to raise $1 billion: Report

The company is in talks with SoftBank Group Corp.'s Vision Fund, an investor in PhonePe's parent entity Flipkart, although Walmart will remain top investor, the people said

Walmart, Flipkart join hands with NSIC to help MSMEs grow, unlock potential

Walmart and Flipkart on Tuesday joined hands with the National Small Industries Corporation (NSIC) to accelerate capacity building for micro, small and medium enterprises (MSMEs) across India, help them unlock export potential and become part of retail supply chains locally and globally. The agreement was signed at a summit here to mark the milestone of 20,000 MSMEs completing their training under the Walmart Vriddhi Supplier Development Programme, of which Swasti is a programme partner. The Vriddhi programme also includes training, seminars and mentoring sessions conducted regularly for MSMEs. Tens of thousands of MSMEs have registered for the programme from metros and Tier II and III cities across India. The partnership will enhance access for participating MSMEs to schemes offered by the NSIC while making learning resources of Vriddhi available to MSMEs registered with the NSIC. "The Indian MSME sector currently comprises 6.3 crore MSMEs that employ more than 11 crore people. We

Flipkart, Walmart ink MoU with NSIC to speed up capacity creation for MSMEs

The three plan to support MSMEs in their quest to integrate with local and global retail supply chains

Flipkart staff may get Rs 5,700 cr in stock buyback scheme in a few weeks

This will be the biggest Esop buyback in tech industry. Flipkart owns over 80% stake in PhonePe and is looking to exit the company. Walmart owns 10% in the Bengaluru-based fintech firm

Flipkart to go for $700 million ESOP buyback during PhonePe funding: Report

The round will readjust Flipkart's valuation from $37.6 billion to $33 billion and PhonePe will have a separate shareholding structure

PhonePe set to acquire fintech start-up ZestMoney for about $300 mn

Deal expected to be closed in two-four weeks, says source